Revolving loans are offered for development committees in rural villages. Loan profits support the elementary school program for the village community and provide a way for individuals to participate and make a profit.
More than 1,500 children currently receive an education in twelve village elementary schools. Many villagers cannot afford to send their children to school, so village economic development committees are formed to plan and carry out new business ventures in order to make a profit and help pay for teachers’ salaries. Each village is required to pay about $32 per month, about 75 cents per child, to sustain the education needs in their villages.
Alliance staff work with village committees to begin new loan projects. They also provide continual business training to ensure project success. Current projects include grain banks, fertilizer (for cotton production) and individual business projects (as approved by the village development committee).
More than 1,500 students look to the Alliance for an education. Loans increase income & provide a way for villages to assume responsibility for their education needs. Elementary schools will continue to offer a bright future for village children.
Economic Development (loan projects) video
Economic Development initiatives in Ouelessebougou